Megatrends

The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.

Convenience Stores in Chile

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Executive Summary

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PROSPECTS

Convenience stores benefits from household trends

The number of habitants per home has gradually decreased in principal Chilean cities. Constantly increasing land and property values and urbanisation have shaped the city landscape, mostly in Santiago where studio flats are becoming an increasingly popular solution.

Competitive prices are the main commercial strategy

Even though convenience stores charge considerably higher prices than other modern grocery retailers, the channel offers significant growth opportunities. By strategically locating the stores in both residential neighbourhoods and commercial hubs, convenience stores can meet consumer needs in the right place at the right time by offering selective promotions at a competitive price throughout the day.

Product mix is a key differentiator

Because of the fast-paced lifestyle, consumers prefer time-saving offers that meet their specific needs, as they seek fast service and proximity while still having product quality and diversity in mind. Health awareness has increased amongst Chileans, who are more careful about what they include in their diet.

COMPETITIVE LANDSCAPE

Upa! enters with stand-alone stores

Empresa Nacional de Energía Enex SA surprised the convenience stores competition by launching a stand-alone format store under its Upa! brand. According to its brand strategy, the stores aim to supply demand in business hubs with breakfast and lunch meal deals.

Omnichannel presence boosts sales for dominant OK Market

Time-pressed households are rapidly turning to e-commerce solutions for their grocery needs. A combination of high internet penetration and access to technology explains the successful implementation of last milers such as Rappi and Uber Eats which are shaping the way Chileans make purchases.

OXXO settles as a main player after fully transforming stores

FEMSA Comercio SA de CV, which brought its brands to Chile during 2016, was the second most important player in convenience stores in 2019. Through the conversion of Big John stores, OXXO rapidly gained value share during 2017-2019.

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